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Ceasing audits

Guest cosmo01

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Guest cosmo01

We currently have our accountants perform financial audits of our church plans, but due to the recent increase in the cost associated with these audits, we are trying to determine whether we should cease the audits (since we are not required to have the plans audited in the first place). Is there any benefit to performing an audit? Does an audit in any way afford us any protection against possible law suits? Any guidance on this matter would be appreciated.


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